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NOVAK v. KASAKS

No. 96 Civ. 3073(AGS).

997 F.Supp. 425 (1998)

Carol NOVAK and Robert Nieman, on behalf of themselves and all others similarly situated, Plaintiffs, v. Sally Frame KASAKS, Paul E. Francis, Joseph R. Gromek, Gerald S. Armstrong, James J. Burke, Jr., Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Merrill Lynch Capital Partners, Inc., ML IBK Positions, Inc., Merchant Banking L.P. No. III, Kecalp, Inc., AnnTaylor Stores Corporation and AnnTaylor, Inc., Defendants.

United States District Court, S.D. New York.

March 10, 1998.

Attorney(s) appearing for the Case

Milberg Weiss Bershad Hynes & Lerach LLP, New York City, Finkelstein & Associates, San Diego, CA, Rossbacher & Associates, Los Angeles, CA, Abbey & Ellis, New York City, for Carol Novak and Robert Nieman.

Skadden, Arps, Slate, Meagher & Flom, New York City, for AnnTaylor Stores Corp., AnnTaylor, Inc., Sally Frame Kasaks, Paul E. Francis and Joseph R. Gromek.

Rogers & Wells, New York City, for Merrill Lynch & Co. and Merrill Lynch, Pierce, Fenner & Smith Inc.

Wachtell, Lipton, Rosen & Katz, New York City, for Gerald S. Armstrong, James J. Burke, Jr., Merrill Lynch Capital Partners, Inc., ML IBK Positions, Inc., Merchant Banking L.P. No. III and KECALP, Inc.

OPINION AND ORDER

SCHWARTZ, District Judge.

In this action, based upon alleged securities fraud, defendants move to dismiss the complaint pursuant to Rule 12(b)(6) of the Federal Rules of Civil Procedure (failure to state a claim) and Section 21D(b)(3) of the Securities Exchange Act of 1934 (failure to plead fraud with particularity and an inability to do so). For the reasons set forth below, defendants' motions to dismiss are granted.

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